Invesco (IVZ) Beats On Q2 Earnings; Revenue & AUM Decline
Zacks Investment Research | Jul 27, 2016 10:39PM ET
Invesco Ltd. (NYSE:IVZ) reported second-quarter 2016 adjusted earnings of 56 cents per share, beating the Zacks Consensus Estimate by a penny. Also, the bottom line came in 11.1% below the prior-year tally.
Decline in operating expenses largely benefited the results. Further, long-term net outflows acted as a tailwind. However, soft revenues as well as weakness in assets under management (AUM”) were the undermining factors.
On a GAAP basis, net income attributable to common shareholders came in at $225.5 million or 54 cents per share, down from $257.3 million or 60 cents per share in the year-ago quarter.
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